4 Tips to Be More Attractive to Sellers
Here are four tips to make your offer more attractive to sellers.
I'm very excited to share a few things that buyers can do to be as attractive as possible to sellers when making offers. I’ve talked a lot recently about how the market is shifting, and it’s still true. We’re seeing a little more inventory hit the market, but properties that are priced and marketed correctly still move very quickly. Here are four ways we can help you be the most attractive buyer:
1. Be the first to place an offer. Sellers are excited to get offers, and if you’re the first one, often you can begin developing a relationship with the listing agent and seller immediately.
2. Put your best foot forward. This doesn’t mean you’ll overpay for the property, but if it’s priced accurately, there are a slew of showings set up, and it’s likely to get multiple offers, you don’t want to come in low. It’s our job as real estate agents to ensure you’re not paying too much, but we also want to put the best terms together that we can right off the bat.
Properties that are priced and marketed correctly still move very quickly.
3. Consider covering the appraisal gap. In case the property appraises a little below what you have it under contract for, you may want to have $5,000 or $10,000 to bridge the gap. You can state this in your offer upfront, saying you’re willing to cover up to a certain amount if the appraisal comes in low. This creates more certainty for the seller that the appraisal won’t kill the deal.
4. Offer post-occupancy. We’re currently seeing many requests from sellers for post-occupancy agreements. That means the seller needs some time to stay in the property after the closing. We have a specific document that’s a lease between the buyer and seller that allows the seller to stay in the property for a certain amount of time. This could be a day or two or up to 60 days.
If the seller needs 10 days, for example, and that works for your schedule, you should consider it. We’ll make sure the agreement is written well, and they have to leave the property the way you purchased it. We’re seeing this quite a bit right now, and adding flexibility for the seller can be extremely attractive to them.
Bottom line: What the seller nets will be most important to them 90% of the time. If we can take good terms and a strong offer price that makes sense for you, you’ll provide more certainty that the deal will move forward. You can use all of these tips or just some of them to get into the home of your dreams.
If you have any questions about making an offer or another real estate topic, feel free to give me a call. I look forward to hearing from you.